DAILY REPORT FOR
NIFTY: - Open 4109 High 4262 Low 4109 Close 4209 (+101 pts)
P/E 19.04 P/B 4.95 Adv 44 Dec 6
Supp 4188/4160/4130 Res 4245/4275/4330
SENSEX: - Open 14512 High 14680 Low 14407 Close 14427 (+286 pts)
Supp 14400/14320/14230 Res 14500/14605/14710
Banks and Metals strike back, Fertilizers in 5th gear:-
· Sensex zooms 535 points in early trade but settles only 286 points higher
· FIIs Net Sellers Rs 648 Cr in Cash Market, Domestic Institutions Net buyers Rs 142 Cr, FIIs were buyers in the Derivatives market as they bought Rs 4430 Cr in F&O.
· Fertilizers were in huge demand as Chambal Fert spurted 20%. RCF, GNFC, GSFC, Nagarjuna Fert too gave massive rallies.
· Volumes were lower at Rs 8960 Cr in spot market. F&O Vol Rs 40075 Cr
· Breadth was positive- NSE Adv 854 Dec 263 Unch 14 BSE Adv 1940 Dec 779 Unch 41
Top Gainers: - Suzlon, Sterlite Inds, ICICI Bank, Glaxo, Tata Steel
Top Losers: - Tata Power, Satyam Comp, Infosys, M&M, Wipro
Indian ADRs: - http://tinyurl.com/33m7dx
Outlook for Tuesday:-
· Markets to open firm and should move sideways. Stock-specific movement can continue.
· The range can be 4190 to 4260
· Still no concrete decision has been made on Nuclear Deal issue as Government still backs it and the Left still oppose it
· Dow Jones recovered from mid-day losses, Asian markets are trading flat
· Ranbaxy, Indraprastha Gas looks good on charts.
· One is advised to take only very short-term trading positions as political uncertainty can be fatal for bulls
Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.